Multiple Choice A debit to Petty Cash of $91. A credit to Cash of $237.25. A credit to Office Supplies Expense of $75. A debit to Transportation-In of $91. A credit to Cash Over and Short of $12.25. Childers Company, which uses a perpetual Inventory system, has an established petty cash fund in the amount of $500. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4 December 7 December 12 December 18 Merchandise purchased $51 Delivery expense $75 Purchase of office supplies Miscellaneous expense $40 $59 If, in addition to these receipts, the petty cash fund contains $262.75 of cash, the journal entry to reimburse the fund on December 31 will include: Multiple Choice O A debit to Petty Cash of $91. О A credit to Cash of $237.25. O A credit to Office Supplies Expense of $75. A debit to Transportation-In of $91.
Multiple Choice A debit to Petty Cash of $91. A credit to Cash of $237.25. A credit to Office Supplies Expense of $75. A debit to Transportation-In of $91. A credit to Cash Over and Short of $12.25. Childers Company, which uses a perpetual Inventory system, has an established petty cash fund in the amount of $500. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4 December 7 December 12 December 18 Merchandise purchased $51 Delivery expense $75 Purchase of office supplies Miscellaneous expense $40 $59 If, in addition to these receipts, the petty cash fund contains $262.75 of cash, the journal entry to reimburse the fund on December 31 will include: Multiple Choice O A debit to Petty Cash of $91. О A credit to Cash of $237.25. O A credit to Office Supplies Expense of $75. A debit to Transportation-In of $91.
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter10: Cash Receipts And Cash Payments
Section: Chapter Questions
Problem 2QY: What is the entry to record the cash received on a sale of 500, credit terms 1/15, n/30, if the...
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